CL Educate Buyback 2023 Description – Incorporated in 1996, CL Educate is engaged in the business of providing education and test preparation training programs which include tuition to school students and coaching to aspirants for a variety of entrance examinations both at the school and graduate/postgraduate levels.
CL Educate Limited is an asset-light technology-driven company that operates in 2 segments – EdTech & MarTech.
- EdTech Segment: The educational segment of the group comprises businesses generated and serviced through educational services such as Test Preparation, Content Monetization & Student Mobility. CL Educate offers a bouquet of services that caters to a student’s entire journey from the foundation to preparation for undergraduate entrance exams to preparation for postgraduate entrance exams and preparation for Job Oriented exams as well.
- MarTech: Under the brand name Kestone, the company offers services to corporates, that include – Experiential Marketing & Event Management Solutions, Digital & MarComm services, Customized Engagement Programs (CEP), Transitioning Biz into Metaverse, and Strategic Business Solutions.
The cash position of the company has improved significantly over the last year. The Net Cash position has improved ~50X in FY 23 as compared to FY 19 (Pre-COVID). The company currently has nearly INR ~100 crores of cash in various forms available at its disposal, this after returning INR ~10 crores to its shareholders via a buyback route in FY 23 in addition to INR ~2 crore of buyback related taxes and expenses.
The company has also generated its highest-ever profits of INR 24.6 crores for FY 23 in its 27 years of existence, surpassing last year’s total comprehensive income by 68.4%, up from INR 14.6 crores. This has also resulted in an improved comprehensive income margin to 8.2% from 6.7%.
CL Educate Share Buyback 2023 Details
|CL Educate Buyback Dates||21 August – 28 November 2023|
|CL Educate Buyback Maximum Price||INR 94 per share|
|Market Price on Buyback Approval||INR 76.79 per share|
|Buyback Premium on Market Price||22.41%|
|Buyback Offer Size (Minimum Shares)||15,95,744 share|
|Buyback Offer Size (Maximum Amount)||INR 15 crore|
|Offer Type||Open Market (Stock Exchange)|
|Face Value||INR 5 per share|
|Listing At||BSE, NSE|
CL Educate Buyback Dates (Timeline)
|Board Meeting Intimation for Buyback Proposal||26 July 2023|
|Buyback Approval Date||2 August 2023|
|Public Announcement of Buyback||4 August 2023|
|Buyback Record Date||14 August 2023|
|Buyback Opening Date||21 August 2023|
|Buyback Closing Date||28 November 2023|
CL Educate Buyback 2023 Documents
CL Educate Buyback Entitlement Ratio
There is no shareholder entitlement since the buyback will be conducted through open market purchases.
CL Educate Financial Performance
|FY 2021||FY 2022||FY 2023|
Registrar of CL Educate Buyback 2023
KFIN TECHNOLOGIES LIMITED
Selenium Tower B, Plot No – 31 & 32,
Financial District, Nanakramguda,
Serilingampally, Hyderabad Rangareddi,
500 032, Telangana, India
Phone: +91 40 6716 2222
Email: [email protected]
Manager of CL Educate Buyback 2023
V.B. DESAI FINANCIAL SERVICES LIMITED
Cama Building, 1st Floor, 24/26,
Dalal Street, Fort, Mumbai – 400 001
Phone: 022-40770709 / 022-40770777
Email: [email protected]
The process to Participate in CL Educate Buyback
Buybacks are conducted either through a tender process or an open market (stock exchanges).
Through Tender Process
All eligible shareholders of the company who own shares in the physical or demat form on the record date may participate in the buyback offer through their stockbroker. The eligible shareholders who hold the shares in demat form must notify their brokers of the details of the equity shares that they wish to tender in the buyback offer.
The shareholder must transfer the tendered shares to the clearing corporation’s Special account. In turn, the broker would place a buyback order on the stock exchange.
The eligible shareholders who own the shares in physical form must present their broker with the original share certificates and supporting documents. After document verification is complete, the broker places an order on the stock exchange and submits the original share certificate and TRS (Transaction Registration Slip) to the registrar.
Through Open Market (Stock Exchanges)
Investor shareholders don’t have to do anything as the company purchases shares through the open market at the prevailing rates and cancels the shares. Since the shares in circulation are reduced by these operations, the fair value of the remaining shares increases, effectively making them more valuable.
Frequently Asked Questions
What are CL Educate buyback dates?
CL Educate share buyback opens on 21 August 2023 and closes on 28 November 2023.
Which type of buyback is CL Educate buyback offer?
CL Educate buyback is an open market offer.
What is CL Educate buyback price?
CL Educate buyback price is INR 94 per share.
What is CL Educate buyback record date?
CL Educate buyback record date is 14 August 2023.
How to participate in CL Educate share buyback?
CL Educate share buyback will be conducted through open market purchases and thus, no special participation is required from investors.